ÁKK sells HUF 32 bln of bonds at switch auction, less than planned

Debt

The Government Debt Management Agency (ÁKK) sold HUF 32 bln of bonds maturing in 2024 and 2025 for ones expiring in 2018 and 2019 at a switch auction today, according to Hungarian news agency MTI.

The ÁKK sold HUF 12 bln of 2024/B bonds, accepting 2018/C bonds as payment, and a further HUF 20 bln of 2025/B bonds for 2019/A bonds. It originally planned to sell HUF 20 bln of both papers.

Demand by primary dealers for the 2024/B bonds came to HUF 22.8 bln, and to HUF 40.6 bln for the 2025/B bonds.

The 2024 bonds sold at an average yield of 2.89% at the exchange, and the 2025 bonds at an average 3.09%. Of the closest secondary market benchmarks, the five-year benchmark, calculated on 2021/B bonds, was 1.92%, while the ten-year benchmark calculated on 2027/A bonds was 3.49% on Tuesday.

The debt manager accepted the 2018/C bonds, expiring on June 22, 2018, at a yield of 0.35% as payment. It accepted the 2019/A bonds, which mature on June 24, 2019, at a yield of 0.82%. 

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.